On Friday, Governor Seyi Makinde of Oyo State gave his approval to the N438.4 billion Appropriation Bill for the 2024 fiscal year. Following the signing of the document at the Executive Chamber of the Government House, Makinde delivered a brief speech in which he expressed his commitment to ensuring a minimum of 80 percent performance for the budget. He sought the support of both lawmakers and organized labor to facilitate the effective implementation of the financial year’s budget.
Earlier, on December 5, the governor had presented a budget proposal of N434.2 billion, titled “Budget of Economic Recovery,” to the House of Assembly. The initial proposal included N222.3 billion for capital expenditure and N211.8 billion for recurrent expenditure. However, the lawmakers increased the estimate by N4.2 billion, bringing the total to N438 billion.